Our view is that Apple has had very good growth over the past couple of years, largely driven by upgrade cycle to its existing installed base.
More Quotes from Steve Fortuna:
Apple has a lack of any real new products to drive strong year-over-year unit growth. Its existing products are getting stale.Steve Fortuna
Apple is, in many ways, a market unto itself, ... We believe there is a high likelihood that investors will overreact to this news and take down the PC names in sympathy. We would particularly view this as a buying opportunity for Gateway, and to a lesser extent, Compaq and Dell.
Steve Fortuna
We believe Dell will preannounce a miss for the January quarter, most likely within the next two weeks. We also think the company will use the opportunity to lower next year's sales growth outlook from 20 percent to 15-20 percent,
Steve Fortuna
In our opinion, investors should not read this Apple blowup as evidence that PC demand is weak. Apple is, in many ways, a market unto itself.
Steve Fortuna
What I was expecting was a lot of weakness on the gross margin side, but that the revenue line would be reasonably decent. What it looks like here is the whole thing, top to bottom, is going to be quite weak.
Steve Fortuna
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Terry Gilliam
Uneasy lies the head that wears a crown.
William Shakespeare
There is a silence, the child of love, which expresses everything, and proclaims more loudly than the tongue is able to do.
William Drummond